When it comes to buying property in New South Wales, most people are familiar with strata title or freehold title. But there’s another form of ownership that has been around for decades and is still relevant today, particularly in some of Sydney’s most charming and tightly-held apartment buildings: Company Title.
What Is Company Title?
With company title, you don’t technically own the apartment itself. Instead, you purchase shares in a company that owns the entire building. Those shares give you the exclusive right to occupy a particular unit and usually include voting rights in how the building is managed.
This style of ownership became popular before strata title legislation was introduced in the 1960s and is still found in beautiful, well-maintained buildings across Sydney.
How Is It Different from Strata Title?
- Ownership Structure
- Strata title: You own your apartment and share in the common property.
- Company title: You own shares in the company, which gives you the right to occupy your apartment.
- Selling and Leasing
- In company title buildings, the board (similar to a strata committee) often has to approve new buyers or tenants.
- While this adds an extra step, it also helps maintain a cohesive and community-minded building environment.
- Finance and Lenders
- Some lenders have special criteria for company title properties, so it’s a good idea to find out if your lender has any additional forms or processes for Company Title.
- Rules and Regulations
- Company title buildings operate under their own set of rules (similar to by-laws in strata). These might include policies around renovations, pets or leasing.
Why Consider a Company Title Apartment?
Company title apartments often have a lot of appeal:
- Character and history – many are located in iconic, heritage-style buildings with timeless charm.
- Community feel – with approval requirements, these buildings often foster a friendly, neighbourly atmosphere.
- Location – many company title properties are in highly desirable, tightly-held areas.
Company title ownership is not as common as strata, but it offers unique benefits, especially if you’re looking for character, community, and a property with history. With the right advice and preparation, it can be an excellent choice.
